iFund- Daily Market Commentary

2019-04-16 01:09
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15/4/2019

It is reported that China is considering to cancel punitive tariffs on agricultural products of the United States and may levy them on other non-agricultural commodities. The EU agreed to start trade negotiations with the United States on Monday, with a view to eliminating industrial tariffs. The first-quarter stock trading income of Goldman Sachs is less than the market expectations, and decline rate of Goldman Sachs’s total transaction revenue is larger than that of Citigroup and JPMorgan. A serious fire broke out in Notre Dame de Paris.

    • The Dow Jones Industrial Average closed at 26,384.77 points, decreased by 27.53 points or 0.10%. The Standard & Poor’s 500 Index closed at 2,905.58 points, decreased by 1.83 points or 0.06%. The Nasdaq index closed at 7,976.01 points, decreased by 8.15 points or 0.10%.
    • According to informed sources, China is considering to cancel punitive tariffs on agricultural products of the United States and may levy them on other non-agricultural commodities.
    • Chicago Fed President Evans predicts that the Fed will maintain interest rates unchanged by 2020. He hopes to see inflation rate rise before the next rate hike. The Fed need to ensure the growth rate of inflation is consistent with the target, but not just predictions.

    • The UK’s FTSE 100 index closed at 7,436.87 points, decreased by 0.19 points or 0.00%. The Frankfurt DAX index closed at 12,020.28 points, increased by 20.35 points or 0.17%. The French CAC40 index closed at 5,508.73 points, increased by 6.03 points or 0.11%.
    • The tariff war between European Union and US is escalated. And the EU agreed to start trade negotiations with the United States on Monday, with a view to eliminating industrial tariffs. EU Trade Commissioner Malmstrom said that he is determined to reach an agreement before the beginning of September.
    • European Central Bank official Villeroy claimed that the overall impact of the European Central Bank’s negative interest rate is positive, and the advantages of negative interest rates still outweighs the disadvantages.
      • Japan’s Nikkei 225 index closed at 22,169.11 points, increased by 298.55 points or 1.37%. The yen closed at 111.950 against the US dollar, increased by 0.000%.
      • Chinese Premier Li Keqiang met with Japanese Foreign Minister Yoheo Kono and some Japanese government cabinet members in Ziguangge, Zhongnanhai yesterday (15th). Li Keqiang emphasized that China and Japan are the major economies in the world. Strengthening cooperation is not only in the interests of the two countries, but also conducive to regional, world peace, stability and prosperity.

      • The Shanghai Composite Index closed at 3,177.79 points, decreased by 10.84 points or 0.34%. The Shanghai and Shenzhen 300 Index closed at 3,975.52 points, decreased by 13.10 points or 0.33%. The RMB closed at 6.707 against 1 US dollar, increased by 0.033%.
      • China has increased its holdings of US Treasury bonds for the third consecutive month. According to data released by the US Treasury, US government bonds, notes and treasury bills held by China in February has increased by 4.2 billion U.S. dollars to 1.13 trillion U.S. dollars.
      • According to Bloomberg data, foreign investors sold A shares for the 7 consecutive trading days as of the April 15, hitting the longest continuous net selling period since January 2017.

 







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